Barbara Corcoran, the powerhouse entrepreneur and "Shark Tank" investor, didn't build her $100 million net worth overnight. Her path to success is a masterclass in practical investing — with strategies (and mistakes) anyone can learn from.
Whether through savvy real estate purchases or bold bets on new start-ups, Corcoran's tactics offer real-world insight for anyone seeking to emulate her financial success. Here are some of Cococran's most direct strategies to help you build wealth.
Get a protection plan on all your appliances
Did you know if your air conditioner stops working, your homeowner’s insurance won’t cover it? Same with plumbing, electrical issues, appliances, and more.
Whether or not you’re a new homeowner, a home warranty from Choice Home Warranty could pick up the slack where insurance falls short and protect you against surprise expenses. If a covered system in your home breaks, you can call their hotline 24/7 to get it repaired.
For a limited time, you can get your first month free with a Single Payment home warranty plan.
Outwork the competition, no matter your starting point
/images/2024/09/18/using-smartphone-with-cryptocurrency-money-adobe.jpg)
Corcoran often recalls struggling in school, saying she couldn't quickly grasp letters and numbers. She had to work twice as hard as her classmates to get through classes, which forced her to develop resilience and hustle.
Cocoran believes these foundational traits explain her success and that anyone can make up for knowledge gaps through hard work and practical experience.
For aspiring investors, this means taking the time to thoroughly research opportunities — whether in stocks, real estate, or startups. The extra effort and persistence will set you apart even if you feel like you're playing catch-up or going deeper than needed.
Want to learn how to build wealth like the 1%? Sign up for Worthy to get ideas and advice delivered to your inbox.
Overspend for the right property
/images/2023/12/30/keys-on-papers-real-estate-concept.jpeg)
Corcoran's "golden rule" for real estate? Overspend on the right property.
It sounds counterintuitive, but she advises being the highest bidder on a property with prime potential in terms of location and future development. In the long run, she believes these investments are worth it.
Corcoran says that high-priced deals tend to generate the largest long-term profits. She advises others not to let budgeting constraints hold them back if they find the right property (and have adequate financing).
Instead of the upfront price tag, focus on the value the investment can return over time.
Hold investments long enough to reap the rewards
/images/2024/10/16/technical_price_graph.jpg)
Corcoran believes many investors make the mistake of selling property far too soon and recommends holding onto real estate for at least five years for a meaningful return. "Real estate," says Corcoran, is a "slow way to get very rich."
This principle extends beyond investment property, including stocks and other business ventures. She believes in staying the course amid market fluctuations.
Use failure as fuel
/images/2023/04/26/mature-couple-discussing-finance-with-male-finance-advisor.jpeg)
Corcoran is upfront about past failures and missteps. In fact, 90% of her "Shark Tank" investments have lost money. But Cocoran is still happy with her overall results, saying failure is part of the process.
The few investments that did succeed have far offset any losses, and overall, she is much richer many times over for providing business loans to promising entrepreneurs.
She advises others to embrace risk instead of avoid it but be prepared to pivot when things don't go as planned. Experiencing failure sharpens one's skills and sets one up for future wins.
Tap into family
/images/2023/01/28/man_using_calculator_phone_and_laptop.jpg)
Raising enough capital for your first real estate investment can be hard. Corcoran suggests that young investors team up with family or other financial partners in these situations.
By pooling together resources, you may be able to afford a stake in properties that would otherwise be out of reach.
A strategic partnership to build wealth can be a stepping stone, allowing you to build equity and enough liquidity to invest independently.
Trending Stories
Seek out tangible investments that resonate with people
/images/2023/05/12/african-american-business-woman-reading-newspaper.jpeg)
Corcoran believes in investing in businesses that solve real problems. Whether a product or a property, investments with a clear purpose tend to perform the best.
On "Shark Tank," Corcoran has a record of investing in simple, everyday products with mass appeal. Her $50,000 investment in a wearable blanket returned $468 million in just three years.
Break-even early to ensure profitability
/images/2024/10/16/businessmen-and-investors-and-work-adobe.jpg)
While Corcoran isn't afraid to go over budget when investing in a desirable property, her goal is always to break even within the first year.
This means that any rental income property must cover mortgage payments and expenses from the start, which positions the property to begin quickly generating a profit.
Having a benchmark, like breaking even within one year, is helpful for new investors. Early profitability can set you up for long-term viability.
Take advantage of down markets
/images/2024/05/21/accountant-using-calculator-at-home.jpg)
Following Warren Buffett's advice to "be fearful when others are greedy and greedy when others are fearful," Corcoran believes that down markets present some of the best investment opportunities.
She's highlighted the 2008 housing collapse as a prime example. Many properties purchased when the market hit rock bottom have since rebounded and soared in value.
Be active when others are skittish, and use downturns to your advantage. They often present an excellent time to acquire undervalued assets.
Be selective about diversification
/images/2024/10/14/guy_using_calculator.jpg)
While many financial experts stress the importance of diversification, Corcoran takes a different stance. She prefers to concentrate her money on areas she knows best, such as real estate or consumer products, with tangible benefits.
Her success shows that careful, focused investments in a more limited portfolio can sometimes outperform broader diversification. The key for Corcoran is to invest in what she knows and avoid spreading herself too thin.
If you’re over 50, take advantage of massive discounts and financial resources
Over 50? Join AARP today — because if you’re not a member you could be missing out on huge perks. When you start your membership today, you can get discounts on things like travel, meal deliveries, eyeglasses, prescriptions that aren’t covered by insurance and more.
How to become a member today:
- Go here, select your free gift, and click “Join Today”
- Create your account (important!) by answering a few simple questions
- Start enjoying your discounts and perks!
Important: Start your membership by creating an account here and filling in all of the information (Do not skip this step!) Doing so will allow you to take up 25% off your AARP membership, making it just $15 the first year with auto-renewal.
Bottom line
/images/2024/09/03/senior-couple-checking-insurance-policy-on-tablet.jpeg)
Barbara Corcoran's wealth-building playbook is built on patience, hard work, and smart risk-taking.
Whether it's investing in businesses, properties, or consumer products, Corcoran isn't afraid to wager big and knows that the path to success is often dotted with setbacks.
Although there are no real shortcuts to wealth when you start investing, Corcoran has shown that persistence, confidence, and hard work – being willing to outwork the competition — can pay off big.
Masterworks Benefits
- Invest in art like a millionaire for a relatively low cost
- Art investments have outperformed the S&P 500 by over 131% for 26 years
- Purchase shares of artwork by top artists
- Hedge against inflation and diversify your portfolio
Paid Non-Client Promotion
FinanceBuzz doesn’t invest its money with this provider, but they are our referral partner. We get paid by them only if you click to them from our website and take a qualifying action (for example, opening an account.)
Subscribe Today
Your Next Credit Card Is Waiting
Stop guessing. Start choosing smarter. Get expert-picked card offers, from low-interest options to travel upgrades, sent directly to you.